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Hunt for future AI winners heats up amid tech earnings season

Jan 30, 2024 - asia.nikkei.com
The tech sector has seen a surge in artificial intelligence (AI), particularly generative AI, with leading companies in technology and related fields announcing their October-December results. Investors are keenly observing the potential impact of AI on future earnings. South Korean chipmaker SK Hynix reported an operating profit for the first time in five quarters, attributed to increased sales of high-performance DRAM memory used in AI systems.

Shares of TSMC, Nvidia, and IBM have gained due to the generative AI boom, while Intel has fallen behind. The AI boom has also led to predictions that TSMC's revenues could grow by 26% this year. Meanwhile, other companies like ASML and Samsung have struck a $760m deal on memory chip equipment research, and Intel is doubling down on foundry as AI drives up demand.

Key takeaways:

  • Artificial intelligence, particularly generative AI, has significantly impacted the tech sector in 2023.
  • South Korean chipmaker SK Hynix reported an operating profit for the first time in five quarters due to increased sales of high-performance DRAM memory used in AI systems.
  • Shares of TSMC, Nvidia, and IBM have gained due to the AI boom, while Intel is falling behind.
  • Investors are closely watching the impact of AI on the future earnings of leading tech companies.
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